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This Is Why Starlink Will Bring Dogecoin To The World
Starlink has been one of the great success stories of 2022.
When Russia invaded Ukraine, Starlink gave citizens uncensorable Internet access, to Russia’s great chagrin.
Starlink’s success is a sign of things to come: it may soon provide high-speed satellite Internet to the entire world.
Let’s take a look at how the world’s Internet infrastructure may be getting a major upgrade sooner than you think, and why that’s good news for Dogecoin!
At the end of August, Elon dropped massive news: in 2023, SpaceX will release Starlink V2.
The service will work anywhere in the world. Coverage dead zones will become a thing of the past.
Worldwide cell service will save lives. Lost hikers, shipwrecked sailors, disoriented desert-wanderers, and other off-course individuals will be able to phone for help no matter how far off the beaten path they stray.
Elon said he hopes other phone carriers will follow TMobile's lead and partner with Starlink.
The development should be good for Dogecoin.
One impediment to digital cash adoption is that it relies on having a good Internet connection.
No one wants to abandon a business transaction because of poor phone service.
Starlink's immaculate phone service should put Dogecoin on the same footing as physical cash.
This week, Starbucks announced they're going cashless. It's CEO said, "We predict the mobile app will become the dominant form of payment."
The problem with payment processing apps like Venmo, CashApp, and PayPal is that they're not really cash, and that has drawbacks.
Payment apps function more like online banks. This means they're subject to financial surveillance, like the new law law requiring them to report all transactions over $600 to the IRS.
When you use one of these apps, the money on your screen isn't yours, and operates more like a digital IOU than actual cash.
This means that, if they don't like something you say or do, they can take your money with the click of a button.
In the race for mobile payments ascendancy, Doge has an important advantage over its competitors.
Doge is designed to function as stateless digital cash. The holder fully owns their money.
Users can transfer their Doge to a cold wallet, memorize their seed phrase, and effectively keep their savings stored in their brain. Wow!
Doge isn't the only form of digital cash. Throughout the world, the idea has been gaining momentum.
Soon, the government will be getting in on the game with Central Bank Digital Currencies (CBDCs) like the forthcoming digital dollar.
CBDCs will run on blockchain, but that's where the similarities with Doge end.
The main difference is that CBDCs are highly centralized and subject to government control. If someone in power doesn't like your political beliefs, they can confiscate, censor, or otherwise limit your use of your own money.
Unlike Doge, CBDCs can be programmed with an expiration date: either spend your cash by the end of the month, or it becomes worthless, like a voucher or coupon.
These scenarios sound dystopic and implausible now, but things are moving fast.
Federal institutions are increasingly emboldened to mess with people's money: the accelerating wealth gap and roughly 10% inflation of today is a direct result of government actions.
As we transition into a new digital monetary system, it will be the people who decide which type of cash becomes more widespread: centralized, government-issued CBDCs or decentralized, community-owned forms of money like Doge.
The transition away from physical cash will require more than just a move toward blockchain.
Dogecoin is sort of like new Internet software, but it's still running on old, outdated Internet hardware, which involves undersea cables, telephone poles, cable modems, and other soon-to-be anachronisms.
Starlink will change all this, delivering amazing Internet service anywhere in the world using only a portable dish and power source.
The technology promises to level the playing field between rich and poor countries, allowing high-quality Internet access to become a basic human right.
Currently, Starlink is available in 40 countries, with Norway the latest to allow the it. Service is powered by over 3000 low-orbit satellites.
Doge's coziness with Starlink gives it a huge advantage over other forms of digital cash.
SpaceX has embraced the Dogecoin brand, promising merch purchases in Doge snd the launch of the Doge-1 satellite.
There are already 70 Dogecoin nodes running on Starlink Internet service. Like Starlink itself, these nodes can be run anywhere.
One of the coolest imaginable outcomes would be for Starlink to democratize crypto mining, making it possible for citizens anywhere to strengthen network security and print digital cash regardless of their country's terrestrial internet infrastructure.
With solar panels and batteries getting cheaper, it will someday be possible to live completely off the grid and run a hustle converting electricity into money by mining Dogecoin with the sun.
Not everyone is thrilled by the idea of unfettered Internet access.
In May, Chinese military researchers called for the destruction of Starlink satellites with anti-satellite missiles (ASAT).
Their fear is that Starlink could be used for military purposes, threatening China's national security.
Similarly, Russia has tried to block Starlink service from reaching Ukraine, but so far the satellites have repelled the attempts of hackers to shut it down.
The fact that these two regimes are working to keep new tech out of the hands of regular folks tells you everything you need to know about its power.
While oppressive regimes try to deny freedom technology to the people, SpaceX is working to make it more widely available.
At the end of August, Starlink reduced its monthly subscription fee in Ukraine from $100 to $60.
Starlink is just the latest example of Elon's dogged work to make life better for humanity.
The affinity between Dogecoin and Starlink shows that, once again, Doge is aligning with progress for humanity.
Haters will hate, but Starlink + Dogecoin is inevitable.
Dogey Treats: News Bites
Tesla's California Virtual Power Plant has grown to 3,800 homes.
A lawsuit filed by AGs of Missouri and Louisiana revealed that the Biden administration held regular meetings with social media companies to control information around elections, Covid-19, and vaccines. Missouri AG Eric Schmitt said the redacted emails show an "incestuous relationship" between government and social media companies. Elon responded to an image of one of the emails by posting "!!"
Alex Berenson, the freelance journalist who claims to be the only person to have sued his way back onto Twitter after being banned for misinformation, appeared on Joe Rogan to discuss censorship and the evolution of the Covid narrative. On his Substack, he published a post showing Slack conversations between Twitter and the White House in which a senior advisor to the Biden administration pressured to have him banned from the platform. Berenson has vowed to sue the White House for violating his First Amendment rights.
Dan Woods, a former CIA cyber operations officer, wrote that 80% of Twitter traffic could be bots, explaining, "Twitter’s bot traffic is almost certainly far greater than they have expressed publicly and even greater than they believe internally." Elon posted the article and observed, "On a $/bot basis, this deal is awesome."
Russia's Prime Minister said, "We need to intensively develop innovative areas, including the adoption of digital assets. This is a safe alternative for all parties that can guarantee uninterrupted payment for the supply of goods from abroad and for export." Its Deputy Finance Minister gave the green light to legalize crypto cross-border payments.
Kremlin spokesman Dmitry Peskov warned, "Most likely, a huge global storm is starting” due to the consequences of Western sanctions. OPEC reduced its oil supply to the global economy. Russia's Gazprom completely halted its Nord Stream 1 pipeline due to an "oil leakage." China has been reselling Russian natural gas to European countries at a markup. Energy prices in the UK are soaring: general inflation hit double digits and energy inflation hit 65%, causing photos of UK power bills to go viral. A grassroots campaign called Don't Pay UK has pledged to strike by refusing to pay power bills starting October 1st if it gets a million signatures.
Single-stock short ETFs for GameStop and AMC were filed at the end of August. GameStopNFT changed its Twitter background to a rocket ship taking off to the moon. The image is part of GameStop's GMERICA NFT collection. S&P withdrew GameStop's credit rating at the company's own request, a move which could signal either a forthcoming merger or that it had payed all its debts. BB&B's CFO jumped to his death.
California put in place a plan to ban gas-powered vehicles by 2035, and six days later asked Californians to avoid charging electric vehicles due to electricity shortages, eliciting mockery from the internet.
An Australian financial crimes regulator launched a probe into gold refiner Perth Mint over compliance with anti-money laundering laws.
The Federal Reserve touted a diversity initiative.
Jim Cramer urged investors to stay away from Dogecoin.
Congressman and crypto antagonist Brad Sherman said crypto is a "meme you invest in" that has become too powerful to ban.
Elon posted the copyright page to Frank Herbert's Dune. In the book, Herbert coined the phrase, "He who controls the spice controls the universe," adapted by Elon as, "Who controls the memes, controls the Universe."
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Disclaimer: This is not financial advice and I am not a financial advisor. The article above references an opinion for entertainment purposes only and it is not investment advice. Always assume that the author of the article is actively trading and that the opinions expressed may be biased towards the author’s holdings. Do your own research and consult with a licensed financial adviser before making any investment decision. Do not treat any opinion expressed in this newsletter as a specific inducement to make a particular investment. Content, news, research, tools, and securities symbols are for educational and illustrative purposes only and do not imply a recommendation or solicitation to buy or sell a particular security or cryptocurrency or to engage in any particular investment strategy. The information provided is not warranted as to completeness or accuracy and is subject to change without notice. The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, are not guaranteed for accuracy or completeness, do not reflect actual investment results and are not guarantees of future results. All investments involve risk, losses may exceed the principal invested, and the past performance of a security, industry, sector, market, cryptocurrency, or financial product does not guarantee future results or returns. Dogecoin is a speculative and highly volatile asset susceptible to pump-and-dump schemes.
At the time of publication, Dogecoin is around $0.06 per coin.